Today, the New Mexico Senate approved Senate Bill 48, known as the Community Benefit Fund (CBF). This initiative aims to invest in local projects that enhance community resilience, create jobs, and help residents adapt to climate challenges. The CBF is part of a broader strategy for economic growth and resilience in the state. It focuses on funding projects that improve energy reliability, modernize infrastructure, and protect public health.
The fund allocates $340 million directly to communities across New Mexico. This ensures that urban and rural areas have access to resources for clean energy expansion, climate resilience, and workforce development. "The Community Benefit Fund is about putting decisions and resources into the hands of local communities," said Senate Pro Tempore Mimi Stewart (D-Albuquerque), who sponsored SB 48. She highlighted that there are "$1.4 billion in unawarded projects" aimed at improving community resilience and economic opportunities.
Senator Carrie Hamblin (D-Las Cruces) emphasized the bill's impact on her district during the Senate debate: "The Community Benefit Fund directly helps my district by funding projects like the La Cueva Trail which provides access to every New Mexican to our beautiful outdoor spaces." She added that these funds support various community needs such as building charging stations and solar projects.
Eligible projects for CBF funding include:
- **Mora County Complex Community Center**: A hub for disaster response and community services.
- **Kit Carson Electric Microgrid Development**: Ensures energy reliability for rural areas.
- **City of Jal Affordable Housing Initiative**: Constructs energy-efficient housing to reduce emissions and utility costs.
Senator Cindy Nava (D-Bernalillo) underscored the importance of sustainable housing funded by the CBF: "As someone who worked in the U.S. Department of Housing and Urban Development, I saw firsthand the benefits of sustainable housing systems on community resilience."
After passing in the Senate with a 23-15 vote, SB 48 will proceed to the House for further consideration. More information about the Community Benefit Fund can be found at www.clearhorizonsnm.org.
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